Choreo LLC Makes New Investment in Range Resources Co. (NYSE:RRC)

Choreo LLC acquired a new position in shares of Range Resources Co. (NYSE:RRC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,372 shares of the oil and gas exploration company’s stock, valued at approximately $213,000.

A number of other large investors also recently added to or reduced their stakes in RRC. Fifth Third Bancorp raised its position in shares of Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after buying an additional 325 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after buying an additional 350 shares during the last quarter. Orser Capital Management LLC raised its position in shares of Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Range Resources by 20.8% in the second quarter. GAMMA Investing LLC now owns 3,529 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 608 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 1.7 %

Shares of RRC stock opened at $30.51 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $7.40 billion, a PE ratio of 15.49 and a beta of 1.80. The company has a 50-day moving average of $30.56 and a two-hundred day moving average of $33.52. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Range Resources Co. will post 2.07 EPS for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is 16.24%.

Analyst Ratings Changes

RRC has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Mizuho reduced their target price on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. cut their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Finally, Susquehanna cut their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.10.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.